Sask. Realtors Association calls Saskatoon a ‘tense market’
As home sales in Saskatoon heat up this spring, the CEO of the Saskatchewan Realtors Association said it’s a “tense market” right now, and it’s not expected to let up anytime soon.
“I say tense because it’s not very comfortable for buyers or sellers. Things are moving very quickly because there’s not a lot of inventory on the market,” Chris Guerette said, adding the crunch has been predicted for a while now.
She says in the first week of April of 2023, 26 per cent of homes were sold either at the listing price or above the listing price.
“Well, in this week, April 1st to the 7th, 2024, we had 55 per cent of listings going at asking (price) or above. That’s almost double and indicative to us of an acute shortage of listings and that’s problematic for anyone who’s trying to dabble in the real estate market right now,” she said.